Apr 2, 2012

Borneo Energi FY11 profit soars 423%

Coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN) recorded a 423.89% jump in net profit last year on the back of robust growth in net sales.
Borneo, that is controlled by Indonesian businessman Samin Tan, posted Rp1.83 trillion net profit last year from Rp348.85 billion in the previous year.
Operating profit jumped 169.52% to Rp2.53 trillion from Rp939.68 billion, while gross profit surged 154.14% to Rp3.38 trillion from Rp1.33 trillion. Borneo booked a 121.09% jump in net sales to Rp6.08 trillion from Rp2.75 trillion.

Disclosure: No position at the stock mentioned above. 

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